MANILA (Reuters) - The Philippine central bank said on Friday it was closely monitoring the foreign exchange market and remains prepared to act to ensure orderly transactions and smooth volatility.
Emerging Asian currencies, including the Philippine peso, hit the skids early on Friday, taking their cue from slumping sterling and a rush to safe-haven assets as early counts in the British referendum on European Union membership put the "Leave" camp ahead.
"We are confident that the flexible exchange rate regime would be able to absorb the necessary adjustments should they be necessary," Bangko Sentral ng Pilipinas Deputy Governor Diwa Guinigundo said in a text message.
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"After all, the market should be assured of the strength of the Philippine macroeconomy and the banking system as well as the comfortable level of both our FX reserves and the FX deposits in the banks," he said.
(Reporting by Enrico dela Cruz; Editing by Richard Borsuk)